Singapore Stock Market May Extend Tuesday's Losses

Ahead of Wednesday’s Labor Day holiday, the Singapore stock market had ended the two-day winning streak in which it had advanced more than 55 points or 0.8 percent. The Straits Times Index now rests just above the 3,400-point plateau and it’s looking at another soft start again on Thursday.

The global forecast for the Asian markets is soft on the outlook for interest rates and on sliding crude oil prices. The European markets were mixed and little changed and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The STI finished slightly lower on Tuesday following losses from the financial shares and industrial issues, while the property stocks were mixed.

For the day, the index sank 6.82 points or 0.20 percent to finish at 3,400.20 after trading between 3,387.46 and 3,412.47. Volume was 911.33 million shares worth 1.26 billion Singapore dollars. There were 239 decliners and 153 gainers.